News Column

Terra Capital Reports Net Assets Rise

July 22, 2014

Samuel Agini

LONDON (Alliance News) - Terra Capital PLC Chairman Dirk Van den Broeck Tuesday said that the company's investment portfolio continued its good performance in the first six months of the year, with net assets growing by USD5.7 million during the period.

Of that sum, USD2.3 million was returned to shareholders in dividends, representing a 3.5% yield on the fund's December net asset value, said the company. A further USD1.0 million was returned through share buybacks in the market, as the company looked to manage the discount at which the shares trade to NAV.

Van den Broeck said that investment manager Terra Partners Asset Management Ltd has continued to work on identifying investment opportunities, whilst continuing to ensure positions are built methodically and only after thoroughly researching each opportunity. The Chairman said that the fund is now 73% invested, and that the investment manager expects that it may be fully invested before the year is out.

"The fact that a gross return of 8.59% (after adding back dividends) has been achieved whilst we are not yet fully invested emphasises how positively the positions taken to date have performed," Van den Broeck said in a statement.

According to the company's statement, the investment manager is now pursuing a number of opportunities in Argentina as it looks to diversify and to boost performance.

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Source: Alliance News

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